NEW YORK, July 23, 2022 /PRNewswire/ — According to the latest market research report published by P&S Intelligence, in 2021, the AI-based medical imaging market accounted for $1,093.0 millionthat is expected to hit $11,921.4 million by 2030, growing at a whopping 30.4% rate between 2021 and 2030. The key aspects driving the market are the increasing cases of chronic diseases, the growing need for medical services for the elderly, and the increasing investment in R&D in the health industry.
Technological developments and digitization in the healthcare industry are also driving the growth of the market. Medical imaging, which is used for the detection and treatment of diseases, is one of the most important pillars of the industry. Due to its sensitivity and accuracy in identifying abnormalities, AI has a wide range of uses in the medical field.
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Key points from the AI-based Medical Imaging market report
· CT scans have the largest share of revenue, at nearly 30%, and the category would continue to lead the AI-based medical imaging market for the foreseeable future. This is explained by the increasing prevalence of cardiovascular diseases and cancer, as well as the growing need for AI-integrated advanced medical imaging solutions.
- Among all modalities, the integration of AI in MRI is predicted to grow the fastest between 2021 and 2030. The use of AI to image anatomy, which helps clinicians provide appropriate patient care , can be attributed to this growth.
- About 50% of the AI-based medical imaging market share is held by deep learning technology, which is also expected to lead the market during the forecast period. This is because it is frequently used to diagnose and differentiate between viral and bacterial pneumonia on pediatric chest radiographs and has excellent extraction capabilities.
- The hospital category is projected to grow at a CAGR of 30% in the coming years. This is due to the fact that hospitals are ubiquitous, easily accessible, and preferred over alternative medical institutions.
- The neurology category will advance to the highest CAGR in the coming years. This is attributed to a significant number of vendors developing AI-based medical imaging systems and devices for neurological diseases, as well as the abundance of medical imaging data in this field.
Examine detailed report on AI-based Medical Imaging Market Size, Share and Demand Forecast Report to 2030
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The North American market has the largest share and the trend is expected to continue in the future. This is due to the high rate of adoption of state-of-the-art technologies in the health industry and the existence of major players.
In addition, the APAC AI-based medical imaging market is anticipated to grow at a significant CAGR of over 30% in the coming years. The aging of the population in the region, the increase in health care costs and the growing investments of public and private actors are factors that contribute to this exponential growth.
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SOURCE P&S Intelligence